Rumor of Apple Acquisition of Waze “Completely Fabricated”

The rumored deal for Apple to acquire social mapping service Waze, news of which broke yesterday, is false. TechCrunch, which ran the original story, and CNEThavespoken to new sources who confirm that, while the two companies have engaged in low-level talks in the past, there is no pending deal for an acquisition and earlier reports about a deal being close at hand were inaccurate.

“This isn’t a rumor (of a non-deal). There is no deal is happening. At least not now or anytime soon,” TechCrunch explained in its follow-up post.

CNET also heard from its sources regarding the rumor:

A source familiar with Apple's thinking has told CNET that reports that Waze would be acquired by the iPhone maker are completely "fabricated." The person told CNET that Apple has no plans to acquire Waze, and discussions are currently not being held between the companies.

The initial rumor cited independent sources claiming that the two companies were close to a deal, with Apple looking to acquire Waze to help bolster its criticized mobile mapping effort. The only point of contention left, according to the rumor, was the price, with Apple offering in the range of $500 million in total compensation and Waze holding out for $750 million.

According to the new, and presumably more trustworthy, sources, however, none of the above negotiations ever occurred, and Apple has no plans to acquire Waze any time soon. This does leave open the possibility that Apple is still interested in purchasing mapping firm TomTom, as was speculated in early December by Rabobank International analyst Hans Slob.

Neither Apple nor Waze have chosen to comment publicly on the rumors or their retractions as of the date of this article.

If it were fabricated, rat the guy out. It’s one thing to hear a whisper somewhere about something happening, but if someone knowingly passed off lies to mislead the public, this just stinks of stock manipulation.

I’m getting fed up with the seemingly liberated attitude the media has on reporting every little thing to meet their web-click quota and hope 1% of what they pass off as “news” is taken seriously.